So what: Revenue in the third quarter rose 4.6%, to $425.8 million, and net income more than tripled, to $85.3 million, or $1.39 per share. On an adjusted basis, earnings were $0.80 per share, which was $0.31 ahead of estimates.

Now what: Trends were generally positive for Cloud Peak Energy, and indications are that the coal market has hit bottom. Higher natural gas prices have brought back demand for coal, and Cloud's exports also grew year over year. I'm not a buyer of coal stocks, given the long-term challenges in the market, but I think Cloud is well-positioned if demand continues to recover.

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